Monetization of Politics and Socioeconomic Development in Abia State in the Fourth Republic


Authors : Echem, Michael Ogbonnaya; Amadi, Okechukwu Sample

Volume/Issue : Volume 6 - 2021, Issue 12 - December

Google Scholar : http://bitly.ws/gu88

Scribd : https://bit.ly/3mblUBn

This paper investigated the attendant and manifest implications of monetization of politics on socioeconomic development in Abia state. It explored the character through which monetization of politics expressed itself in Abia state in the fourth republic as well as the implications on social and economic development in the state. Two theories: Investment theory of party competition, and Golden Mean were used in the study. Survey design was also used and the sample size was 400 systematically drawn from four LGAs in Abia using stratified sampling techniques. Primary and secondary methods were adopted in gathering data, while data gathered were analysed qualitatively and descriptively. The study found that monetization of politics in Abia state expressed itself in institutionalized high cost of party forms/campaign costs cum lofty entitlements attached to political offices, and financial inducement between the candidates and the masses. The outcomes of these were inadequate attentions to social and economic development projects in the state. Meanwhile, the politicians kept enjoying their packages whether effective in office or not. The study recommended amongst other things, a paradigm shift from politics of the rich to politics of qualified civil servants, and establishment of external development project monitoring bodies to ensure proper implementation of public projects in Abia and Nigeria at large.

Keywords : Monetization, Politics, Development, Socioeconomic, Investment, Inducement, Entitlements.

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